Wavestone: Lower results, adjusted targets, and strategic acquisition

Wavestone announced revenues of €227 million for the first quarter of fiscal year 2026/27, a 2% decrease compared to the previous year. This decline reflects an utilization rate of 71% and a drop in the average daily rate to €926. However, the order backlog shows a slight increase, reaching 4.5 months as of June 30, 2026.

The company identified a growing need for artificial intelligence projects, which now represent 22% of its revenue. In response, Wavestone acquired AI Builders, a French firm specializing in AI and data strategy, to boost its AI growth.

Faced with these challenges, Wavestone has adjusted its 2026/27 targets, forecasting profitability between 11% and 13%, compared to the previous target of 13%. The focus is on operational efficiency and expansion into the AI sector.